In the land market continues to be observed falling prices, banks are reluctant to make loans to build houses, and sites continue to buy only for their savings.
The global financial crisis has affected the real estate market in all possible directions. In each case, there are many factors that could affect the fall in land prices. But in many countries of the world prices of land have fallen so much that in the near future no one can make predictions on the rise in prices.
Decide to build a house less and less, mainly due to the fact that the market for ready-made proposals of private houses is full of interesting suggestions, the prices which seem to be much more profitable than building on its own with considerable expenditure of time and nerves.
For large land plots for large-scale construction of apartment houses, the situation is extremely complicated. The absence of major investors in this market will occur in the future. Banks lend only if the developer has a project ready for at least 70%. And investing in start of construction until there can be no question. The same applies to commercial land. Builders and developers are closely associated with banks, and banks in turn reluctant to give loans to develop new projects.